Are your kids suffering from too well off syndrome? If so, how do you turn things around? You, like so many successful individuals, have a nagging concern about teaching your children and grandchildren the mindset and skills to handle the challenges that come with inherited wealth. Simply growing up watching you make sound financial decisions [...]
In today’s hyper-busy culture, many couples end up living almost separate lives during their first one or two decades together. This doesn’t mean they don’t have a close relationship, or that they never do anything together. But, between career demands, shuttling kids to activities, managing the home and all that goes with it, couples need [...]
“Choose well. Your choice is brief, and yet endless.” ~Goethe What does the word “legacy” mean to you? Most people, when asked this question might say that legacy refers to what a person leaves behind, such as wealth and other assets. While this is a part of what makes up a person’s legacy, this perception [...]
How do you define success? Ask 10 different people this question and you’re likely to get 10 different definitions. The typical dictionary definition characterizes success as “an accomplishment of a goal or purpose.” While this is true, by necessity it leaves out details individuals like you and me associate with a successful life. The missing [...]
Americans have a deep desire to become involved with and have an impact on various societal issues and alleviate suffering where there’s great need. If you’re involved in regular charitable giving, you know how satisfying it is to know that you’re truly making a difference. Giving cash, often referred to as “checkbook charity” is the [...]
Read Phil Tobin's latest article published in Wealth & Management: Americans are currently experiencing the greatest transfer of wealth in history, and many may be unprepared to successfully navigate it. The statistics paint a picture: An estimated $59 trillion will pass from an aging generation to younger generations by 2061, including $21 trillion destined for charities. At its [...]
No doubt, the Tax Cut and Jobs Act (TCJA) of 2017 will change your tax planning in one way or another. Despite any alterations to your planning process, there’s one thing that won’t change: the desire held by many people to donate to the charities and causes they care about. And this drive to give [...]
While most taxpayers will benefit from reduced tax rates and expanded tax brackets under the new tax laws, many will elect not to itemize this year. Rather, they will opt to claim the higher standard deduction and that may include you. With that in mind, here are creative charitable-giving solutions that allow you to take [...]
As you may already know, a donor advised fund (DAF) is a charitable giving vehicle sponsored by a public charity. When your clients establishes a donor advised fund with iGiftFund, they are dealing with an entity recognized by the IRS as a public charity that "sponsors" the DAF. At iGiftFund, we hold ourselves as not [...]
While you may benefit from reduced tax rates and expanded tax brackets, it’s likely that many taxpayers will elect not to itemize this year. Rather, you may opt to claim the higher standard deduction (for 2020 - $12,400 for single filers and $24,800 for married filing jointly). With that in mind, here are several strategies that [...]